“This is a testament to the power of Consolidated Graphics. No other printing company could react as quickly.” -Aaron Grohs, Executive Vice President of Sales and Marketing
Houston, TX (PRWEB) January 8, 2010
On January 3rd, the warehouse of Grover Printing, a Consolidated Graphics (NYSE:CGX) company, caught fire. The three-alarm fire was contained to the warehouse and was put out within the hour, saving much of the printing equipment. No injuries were reported, and business will proceed as usual with minimal impact to Grover clients. Upon receiving news of the fire, Grover quickly took action and within hours had moved both employees and equipment to Chas. P. Young, also a Consolidated Graphics company in Houston. This event is not expected to have a material adverse impact on Consolidated Graphics’ financial results or financial condition.
Consolidated Graphics’ rapid response disaster recovery program was tested once before in February 2008 when a tornado hit Mercury Printing, one of the company’s primary digital print centers in Memphis, TN. Because of Consolidated Graphics’ national infrastructure and advanced technology, manufacturing of print products was immediately sourced to other CGX companies, satisfying customer deadlines. Within one week, the Mercury facility was back up and running.
Executive Vice President of Sales and Marketing Aaron Grohs stated, “This is a testament to the power of Consolidated Graphics. Because of our leading national footprint of over 70 locations and integrated systems, we have the ability to commit to timely service and ensure smooth deliveries to our customers in almost every circumstance. No other printing company could react as quickly and as seamlessly as Consolidated Graphics.”
Reconstruction of Grover’s facility is expected to occur over the next several months, but business will continue as usual for its customers. Grover President Lyle Rudolph stated, “It is impressive to see the CGX platform in action. With the help of Chas. P. Young, we were able to process jobs that came in just hours after the fire and continue to serve our clients with the same high level of service and quality as we did prior to this event.”
About Consolidated Graphics
Consolidated Graphics, Inc. (CGX), headquartered in Houston, Texas, is one of North America's leading general commercial printing companies. With 70 printing businesses strategically located across 27 states, Canada, and in Prague, the company offers an unmatched geographic footprint, unsurpassed capabilities, and unparalleled levels of convenience, efficiency and service. With locations in or near virtually every major U.S. market, CGX provides service and responsiveness of a local printer enhanced by the economic, geographic and technological advantages of a large national organization.
Consolidated Graphics' vast and technologically advanced sheetfed and web printing capabilities are complemented by the largest integrated digital footprint of any commercial printer in the U.S. By coupling North America's most comprehensive printing capabilities with strategically located fulfillment centers and industry-leading technology, CGX delivers solutions that create a spectrum of value for customers. CGX offers the unique ability to respond to all printing-related needs no matter how large, small, specialized or complex.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in which the Company discusses factors it believes may affect its performance or results in the future. Forward-looking statements are all statements other than historical facts, such as statements regarding assumptions, expectations, beliefs and projections about future events or conditions. You can generally identify forward-looking statements by the appearance in such a statement of words like "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "forecast," "project," "should" or "will" or other comparable words or the negative of such words. The accuracy of the Company's assumptions, expectations, beliefs and projections depend on events or conditions that change over time and are thus susceptible to change based on actual experience, new developments and known and unknown risks, including those created by general market conditions, competition and the possibility that events may occur beyond the Company's control, which may limit its ability to maintain or improve its operating results or financial condition or acquire additional printing businesses. The Company gives no assurance that the forward-looking statements will prove to be correct and does not undertake any duty to update them. The Company's actual future results might differ from the forward-looking statements made in this press release for a variety of reasons, continuing weakness in the economy, the growth of its digital printing business, seasonality of election-related business, its ability to adequately manage expenses, including labor costs, the unfavorable outcome of legal proceedings, the lack of or adequacy of insurance coverage for its operations, the continued availability of raw materials at affordable prices, retention of its key management and operating personnel, satisfactory labor relations, the potential for additional goodwill impairment charges, its ability to identify new acquisition opportunities, negotiate and finance such acquisitions on acceptable terms and successfully absorb and manage such acquisitions in a timely and efficient manner, as well as other risks described under the heading "Risk Factors" of our Annual Report on Form 10-K and the risk factors and cautionary statements described in the other documents the Company files or furnishes from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Should one or more of the foregoing risks or uncertainties materialize, or should the Company's underlying assumptions, expectations, beliefs or projections prove incorrect, the Company's actual results may vary materially from those anticipated in its forward-looking statements, and its business, financial condition and results of operations could be materially and adversely affected.
For more information, please contact: